IREN Ltd (NasdaqGS:IREN) saw its stock surge 5.11% during intraday trading on Monday, driven by investor optimism following the company's recent multi-year AI cloud contract with Microsoft and a shelf registration for a US$660.975 million share offering.
The contract, valued at $9.7 billion, is expected to significantly boost IREN's revenue runway, with analysts highlighting the potential of its Sweetwater site, a 2,000MW project set for completion in 2026. BlackGoat's fair value estimate of $94.84 per share, nearly double the current trading price, further fueled bullish sentiment.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments